Business Law Term Paper

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Term Paper of MNGT 2410 Spring 2012 Online Course

Title of Paper: General Introduction and Comparision of Contract Laws between China and America

Name: Yingxi Pu

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Contents
I. Concepts and Features of Contract and Contract Law A. Concept and Features of Contract 1. Concept of Contract 2. Features of Contract B. Concept and Features of Contract Law 1. Concept of Contract Law 2. Features of Contract Law II. Comparison of Development History and Textural Difference between Chinese and American Contract Laws A. Different Development Histories of Contract Legal Systems in China and US 1. Emergence of Contract and Contract Law 2. Development History of China’s Contract Law 3. Development History of American Contract Law a. Lawsuit of Promise in Early Britain b. Evolution of American Contract Law in Modern Society B. Textual Difference and its Reasons between Chinese and American Contract Law Systems C. Summary III. Conclusion

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I.Concepts and Features of Contract and Contract Law I.Concepts A.Concept and Features of Contract 1. Concept of Contract According to the provision of Article 2 of the Contract Law of People's Republic of China (hereinafter referred to as Contract Law), contract is the agreement in which natural persons, legal persons or other organizations with equal status declare a common intention to establish, alter and terminate civil rights and obligations. Contract was once divided into agreement and contract. Agreement refers to the civil legal act established by both parties' consensus with regard to opposite intentions, such as sales agreement. Contract refers to the civil legal act established by two or above three parties’ consensus with regard to collateral intentions, such as partnership contract. However, such division can no longer be seen in our current laws and the two are collectively referred to as contract. Contract has its broad and narrow meanings. In the broad sense, contract refers to all agreements generating rights and obligations, such as labor contract, administrative contract, civil contract, etc. Furthermore, civil contract may also be divided into creditor’s right contract, real right contract, intellectual property contract, identity contract, personality right contract, etc. In the narrow sense, contract refers to the agreement for involved parties with equal status to establish, alter and/or terminate civil rights and obligations. The contract adjusted by the contract law is generally confined to the contract of creditor’s right, real right and/or intellectual property, etc. 2. Features of Contract It can be seen from the concept of contract -- contract is the agreement in which natural persons, legal persons or other organizations with equal status declare a common intention to establish, alter and terminate civil rights and obligations that, contract has the following legal features: � Contract is a kind of civil legal act implemented by natural persons, legal persons and/or other organizations with equal status. As the most important legal fact, civil legal act is the lawful act implemented by civil subjects, which can generate, alter or terminate civil right and obligations. Since contract is a kind of civil legal act, it is different from fact behavior in nature. Fact behavior refers to the act which does not take the declaration of intention as an essential condition and cannot generate the legal effect expected by the party involved, such as infringing act, picking up lost property, etc. In nature, contract as the civil legal act belongs to lawful act. That is to say, only under the circumstance that the declaration of intention made by the contracting parties is lawful, the contract is legally binding and protected by national laws. On the contrary, in case contracting parties make illicit declaration of intention, the agreement, even already reached, may not have the effect as a contract. As contract is a kind of civil legal act, general regulations of...
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